House Sponsors: MCAULIFFE-CAPPARELLI. Short description: PEN CD-CHGO POL-TAX MULTIPLIER Synopsis of Bill as introduced: Amends the Chicago Police Article of the Illinois Pension Code to increase the multiplier used to calculate the maximum allowable pension tax, from 2.00 to 2.26. Effective immediately. PENSION NOTE (Illinois Pension Laws Commission) HB 4058 would significantly increase the annual employer contributions to the Fund. In FY 2000, the City of Chicago made employer contributions of approximately $139.4 million, using a property tax multiplier of 2.00. If a property tax multiplier of 2.26 had been in effect that year, the employer contributions generated by the tax levy would have totaled approximately $157.5 million, an increase of $18.1 million. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status